Construction industry stakeholders questioned how the Bahamas Contractors Association would ensure that small operators get a fair share of work on the proposed $2.6 billion Baha Mar development and similar projects.
These concerns were raised yesterday at a luncheon held by the BCA at the Wyndham Crystal Palace Resort and Casino in Cable Beach to inform the industry of impending changes the local construction sector must adopt to qualify for work on massive foreign investment projects such as Baha Mar.
Baha Mar’s developers will introduce $60 million worth of contracts to begin the first phase of the project, which will only be awarded to Bahamian contractors, in the coming weeks.
BCA President Stephen Wrinkle assured the crowd of construction workers, contractors and tradesmen that his organisation would find ways to help create the “maximum Bahamian participation” in the development.
“The reason we’re here today is to try to get the little man onboard with these projects.”
The crowd was also briefed on the most recent developments in the progress of Baha Mar’s proposed transformation of the Cable Beach strip, which got a boost this week after the government of the People’s Republic of China formally approved the joint venture.
The development is expected to create 11,000 jobs for Bahamians and add $1 billion to the local economy in the first year after completion. However the future of the project faces another hurdle – final approval from the Bahamas government.
